Global banking sector is in trouble.
Bank stocks are crashing in the US, Europe and Asia all together as bond yields hit multi decade highs.
In the $US , the KBW bank index, which tracks the biggest US banks, is down 12% in the last 2 months.
Goldman Sachs is down -22%
Bank of America -17%
Wells Fargo -9%
JPMorgan -9%
Citigroup -10%
In Europe, the Euro Stoxx Banks index is down 6% in the last month
On Oct 7 alone, the STOXX Europe Banks index fell 3.5%, with Deutsche Bank, UniCredit and Société Générale each down more than 4%
$SOXL
$MAGIC
Bank stocks are crashing in the US, Europe and Asia all together as bond yields hit multi decade highs.
In the $US , the KBW bank index, which tracks the biggest US banks, is down 12% in the last 2 months.
Goldman Sachs is down -22%
Bank of America -17%
Wells Fargo -9%
JPMorgan -9%
Citigroup -10%
In Europe, the Euro Stoxx Banks index is down 6% in the last month
On Oct 7 alone, the STOXX Europe Banks index fell 3.5%, with Deutsche Bank, UniCredit and Société Générale each down more than 4%
$SOXL
$MAGIC